Home Loan EMI Calculator

Calculate monthly EMI for your dream home

Compare different tenures and interest rates

See total interest paid over loan period

Currency

Loan Details

Loan Amount (₹)

Interest Rate (% per annum)

Loan Tenure

EMI Details

Monthly EMI Amount

₹8,678

Principal Amount₹10,00,000

Total Interest₹10,82,776

Total Payment₹20,82,776

Interest as % of Principal108.28%

Payment Breakdown

Principal: 48.0%Interest: 108.3%

Loan Summary

- Loan Amount: ₹10,00,000

- Interest Rate: 8.5% per annum

- Tenure: 20 years

- Total Payments: 240 months

What is Home Loan EMI?

Home Loan EMI (Equated Monthly Installment) is the fixed amount you pay every month towards repaying your housing loan. It consists of both principal and interest components. In the early years, most of your EMI goes towards interest, while in later years, more goes towards principal repayment.

How to Use This Calculator

Enter loan amount

The total amount you want to borrow

Input interest rate

Annual rate offered by your bank (typically 8-10%)

Select tenure

Choose repayment period (up to 30 years)

Analyze results

Review EMI, total interest, and amortization

Why Use Our Home Loan EMI Calculator?

Accurate Calculations

Precise EMI using standard banking formulas

Amortization View

See month-by-month principal and interest split

Prepayment Analysis

Calculate savings from early repayment

Tax Benefit Estimation

Understand Section 24(b) and 80C benefits

Frequently Asked Questions

Home loan EMI is calculated using the formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P is principal, r is monthly interest rate, and n is tenure in months. Our calculator does this instantly.

Most banks offer home loan tenure up to 30 years. Longer tenure means lower EMI but higher total interest paid. Our calculator shows both monthly EMI and total interest for any tenure.

Banks typically lend up to 60 times your monthly income, with EMI not exceeding 50-60% of your salary. Use our calculator with different loan amounts to see what fits your budget.

Under Section 80C, you can claim up to ₹1.5 lakh on principal repayment. Under Section 24(b), you can claim up to ₹2 lakh on interest payment. Additional ₹50,000 under 80EEA for first-time buyers.